Housing Market Strong

Housing Market Strong Due To Declining Mortgage Interest Rates

Gustan Cho Associates are mortgage brokers licensed in 48 states

This BLOG On Housing Market Strong Due To Declining Mortgage Interest Rates Was PUBLISHED On March 25th, 2019

Many economists and housing experts are expecting Housing Market Strong in 2019 due to the FED announcing of an interest rate freeze for the remaining year.

On March 20th, 2019, mortgage rates hit a 13 month low. In this blog, we will discuss the housing market strong due to declining mortgage rates in 2019.

Reasoning For Housing Market Strong For 2019

Reason for expected housing market strong for 2019 is due to decreasing mortgage rates.

  • Other factors such as increasing wages and the great economy is expected to fuel home buyers to pull the trigger in 2019
  • The Dow Jones Industrial Average is approaching 26,000
  • Consumer’s 401k’s are at an all-time high
  • Using 401k for home purchase down payment and closing costs is allowed
  • Many industry experts and economists are expecting a strong housing market than originally expected
  • Mortgage interest rates have been steadily declining since the beginning of the year

Mortgage rates hit a 13 month low to 4.23%. It is expected to go lower in the weeks and months to come.

What Experts Are Saying About The 2019 Housing Market

Alternative NON-QM Loan Programs

Adding fuel to the fire is the launch of many non-qm loan programs. Home buyers no longer have to wait the mandatory waiting period after bankruptcy and/or foreclosure. There is no waiting period after bankruptcy and/or housing event to qualify for home loans. This creates more demand for housing. Many home buyers who do not qualify for government and conventional loans can now qualify for home purchase loans with non-qm mortgages. Gustan Cho Associates at NEXA Mortgage, LLC launched the bank statement loan program for self-employed borrowers. There are no income tax returns required. The past 12 months of bank deposits are averaged to derive qualified income. There is no loan limits. There is no private mortgage insurance requirements. For more information in qualifying for a mortgage with a direct lender with no overlays on government and conforming loans, please contact us at Gustan Cho Associates at 800-900-8569 or text us for faster response. Or email us at gcho@gustancho.com. We are available 7 days a week, evenings, weekends, and holidays.

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